Buymed ties up for pharmaceutical supply chain finance with ABBANK

Monday, Jun 24, 2024 17:55

Phạm Duy Hiếu (L), acting general director of ABBANK, Nguyễn Hữu Minh Hoàng, co-founder and CEO of Buymed, at the signing ceremony in HCM City. — Photo courtesy of ABBANK

Buymed, a leading healthtech startup in Việt Nam that owns the e-commerce website, and An Bình Commercial Joint Stock Bank, have entered into a partnership for supply chain finance.

The tie-up opens opportunities for various businesses in Buymed's ecosystem, including 35,000 small and medium-sized family-owned pharmaceutical businesses, suppliers, warehouse operators, and fulfilment centres to access preferential credit from ABBANK.

The two companies said it is aimed at "sustainable supply chain finance", one of the most advanced financial models globally, helping improve the pharmaceutical distribution system and public healthcare quality and drive innovation and sustainability in the pharmaceutical industry.

Nguyễn Hữu Minh Hoàng, co-founder and CEO of Buymed, commended the partnership saying, "By leveraging ABBANK's creative financial solutions and Buymed's deep understanding of the market and public healthcare needs, this partnership will optimise working capital and strengthen the healthcare ecosystem.

“This is also an important part of the ESG strategy that Buymed is aiming for."

Phạm Duy Hiếu, acting general director of the lender, said: "ABBANK is committed to supporting businesses that promote social responsibility and sustainable development.

“Our partnership with Buymed is a testament to our commitment. With mutual respect and trust, this cooperation can open up new opportunities for inclusive growth and shared prosperity." — VNS

Comments (0)